Wells Fargo’s (WFC) governance and risk-management practices continue to fall short of expectations, Senator Sherrod Brown told the bank’s CEO, Charles Scharf. Brown is the Chairman of the U.S. Senate Banking Committee. Wells Fargo provides a variety of financial services to individuals and businesses.  In a letter to Scharf, the senator highlighted the nearly $257 million in fines that regulators have slapped on Wells Fargo in recent months for violations related to money laundering and improper mortgage servicing practices. Scharf, whose compensation jumped 20% to $24.5 million in 2021, took the helm at the bank in 2019.
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